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CrowdStrike reported second quarter revenue of $1.47 billion, beating the $1.44 billion analyst estimate. The company raised full year net new annual recurring revenue growth guidance to 34% from approximately 23% at the start of the year. Shares climbed 18% on Thursday, marking the stock's largest one day jump in two years.
Okta shares rose 20% following earnings data that showed artificial intelligence adoption is increasing security threats and driving corporate spending on tools. CrowdStrike reported that Claude usage grew 400% across sampled endpoints and Falcon Flex annual recurring revenue surpassed $2.3 billion, a 101% increase. The company added more than 935 accounts in the quarter, exceeding the previous three quarters combined.
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Key sources
- SOURCE@cnbc“artificial intelligence adoption is pushing customers to spend more on cybersecurity tools”x.com
- SUPPORT@cnbc“Okta skyrockets 20%”x.com
- SUPPORT@stockmktnewz“Revenue: $1.47B, beating expectations of $1.44B”x.com
- SUPPORT@stocksavvyshay“more than 935 accounts were added in the quarter which exceeded the prior three quarters combined”x.com
- SUPPORT@firstsquawk“BIGGEST JUMP IN 2 YEARS”x.com